Question: Is it possible to open an LLC or FE LLC to a foreign citizen?
Answer: Yes, a foreign citizen has the opportunity to be the sole founder of an LLC or FE LLC in the Republic of Uzbekistan according to the Law of the Republic of Uzbekistan on limited liability and additional liability companies.
Question: Is it possible to open an LLC or an FE LLC, where the sole founder will be a foreign company?
Answer: Yes, a foreign legal entity has the right to be the sole founder of an LLC in the Republic of Uzbekistan (see Article 7 of the Law of the Republic of Uzbekistan on limited liability and additional liability companies). At the same time, it is necessary to pay attention to part 5 of the above-mentioned Article 7: "A company may not have another company consisting of one person as a sole participant, unless the sole participant is a joint-stock company consisting of one shareholder".
Question: What are the deadlines for the introduction / formation of the authorized capital after the registration of LLC or FE LLC?
Answer: Each founder/shareholder of LLC or FE LLC must fully contribute to the authorized/capital fund of the company during the period specified by the constituent documents and which can not exceed one year from the moment of state registration.
Question: Is it necessary to appoint a Director and/or chief accountant at the time of company registration and to open a bank account?
Answer: Yes (regarding the Director). No (regarding the chief accountant).
Question: Where is it possible to download the certificate of registration (Guvohnoma) of an Uzbek enterprise in electronic form?
Answer: The constituent documents of the Uzbek enterprise (certificate of registration, charter, founding agreement) can be downloaded on the website: https://fo.birdarcha.uz/s/uz_landing (for enterprises registered up to 23th of August 2022), https://new.birdarcha.uz/ or https://my.gov.uz/ using the EDS key of this enterprise.
Question: Taxation of wages and dividends of residents and non-residents.
Answer: Personal income tax from wages: for residents of the Republic of Uzbekistan - 12%, for non-residents of the Republic of Uzbekistan - 12%.
Tax on dividends: residents of the Republic of Uzbekistan - 5%, non-residents of the Republic of Uzbekistan - 10%.
Question: Is it necessary for a business to have a postal address? Is it possible to have a virtual office?
Answer: Yes, it is necessary, in accordance with Article 132 of the Tax Code of the Republic of Uzbekistan, the location (postal address) is one of the registration data of a legal entity submitted by it to the tax authority. It is also necessary to pay attention to Article 111 of the Tax Code, which states that the tax authority has the right to suspend transactions on legal entities' bank accounts in order to ensure the fulfillment of the tax obligation in cases of the taxpayer's absence at the place of his declared address. At the same time, enterprises with VAT payment must have, on the basis of ownership or lease or gratuitous use, an area (office) of at least 18 sq.m.
A virtual office (a place that allows employees (without a physical location) to do their work, communicate with the company, with contractors (suppliers, buyers, government agencies, etc.) through a legal (postal) address located on the worldwide information network) only IT Park resident enterprises whose manager is a citizen of Uzbekistan have the right to use.
Question: How many foreign employees can there be in a Representative Office of a foreign commercial organization?
Answer: The staff of the Representative Office may consist of both foreign citizens and citizens of the Republic of Uzbekistan. At the same time, the percentage of foreign citizens admitted to the Representative Office for work should not exceed 40%, but may not exceed 5 people. Foreign citizens working in the Representative Office must be accredited (issue an accreditation card).
Question: What internal documents must an uzbek company have without fail?
Answer: Mandatory local acts are the following documents:
- Regulations on working with personal data of employees;
- Labor protection instructions;
- Vacation schedule;
- Timesheet;
- Staffing table;
- Employment contracts.
the questions and answers are updated periodically.......
